Dow futures steady, Snap plummets 32.5% after earnings

Investing.com - US stock futures experienced minimal changes on Tuesday, as investors sifted through a new set of quarterly results, marking the midpoint of the corporate earnings season.

By 7:00 pm ET (12:00 am GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were down by 0.1% apiece.

In extended deals, Snap Inc (NYSE:SNAP) plummeted by over 32.5% after the social media giant reported EPS of $0.08 versus expected losses of $0.17 per share, while revenue came in at $1.36 billion versus $1.38 billion expected.

Ford Motor Company (NYSE:F) shares rose by more than 6% after the automaker reported EPS of $0.29 versus $0.12 expected, while revenues came in at $46 billion versus $43.04 billion expected. The automaker also revealed plans to distribute a special dividend.

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Wall Street has been drawing strength from a robust earnings season and anticipations of an interest rate cut by the Federal Reserve. However, some uncertainties have surfaced after Federal Reserve Chair Jerome Powell indicated last week that a shift in the central bank's stance might take longer than investors expected. In a recent interview with "60 Minutes", Powell reiterated the need for more positive inflation data before considering a rate reduction. His remarks have led to speculations of fewer rate cuts this year than previously hoped.

During Tuesday's regular trade, the Dow Jones Industrial Average added 141.2 points or 0.4% to 38,521.4, the S&P 500 added 11.4 points or 0.2% to 4,954.2 and the NASDAQ Composite lifted 11.3 points or 0.1% to 15,609.

Investors are now shifting their focus towards the upcoming quarterly results from media giant Walt Disney Company (NYSE:DIS), as well as Uber Technologies Inc (NYSE:UBER) and PayPal Holdings Inc (NASDAQ:PYPL), scheduled for release on Wednesday.

On the bond markets, United States 10-Year rates were at 4.104%.

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